Pink Bull has confirmed reigning world champion Max Verstappen will stay on the group till 2028 after signing a brand new contract.

The five-year extension is reported to be value $55 million a 12 months, shifting Verstappen degree with the determine that Lewis Hamilton is believed to earn at Mercedes.

After profitable the championship final 12 months, Verstappen stated he wished to remain at Pink Bull for all times and the brand new deal, which is along with Verstappen’s present Pink Bull contract that runs till 2023, will see the 24-year-old stay on the group till he’s 30.

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“I actually take pleasure in being a part of the Oracle Pink Bull Racing Group, so selecting to remain to the 2028 season was a straightforward resolution,” Verstappen stated. “I really like this group and final 12 months was merely unbelievable, our aim since we got here collectively in 2016 was to win the championship and we’ve got achieved that, so now it is about holding the primary on the automotive long-term.”

Pink Bull group principal Christian Horner stated Verstappen could be a key a part of the group going ahead, together with as a motivating issue as Pink Bull plans to design and manufacture its personal engines from 2026 onwards.

“To have Max signed with Oracle Pink Bull Racing by means of to the tip of 2028 is an actual assertion of intent,” Horner stated.

“Our quick focus is on retaining Max’s World Championship title, however this deal additionally exhibits he is part of the group’s long-term planning.

“With the Pink Bull Powertrains division working in direction of the brand new engine laws for 2026 we wished to ensure we had one of the best driver on the grid secured for that automotive.”

Verstappen now has the longest contract of any driver in Formulation One. Lando Norris lately signed a cope with McLaren by means of to the tip of 2025 and Charles Leclerc signed a deal in 2019 to maintain him at Ferrari till the tip of 2024.

Hamilton’s contract with Mercedes runs till the tip of 2023 and George Russell, who joins Hamilton at Mercedes this 12 months, is being lined up because the group’s long-term prospect.

Verstappen made his F1 debut in 2015 on the age of 17 with Pink Bull’s junior group Toro Rosso earlier than shifting to the senior group on the Spanish Grand Prix in 2016 at which he took his first F1 victory.

Verstappen’s defence of his title will get underway on the first race of the brand new season in Bahrain on March 20.